Jul 13, 2018 07:17 PM IST | Business
China's ZTE sees heavy losses in H1 due to US penalty
The settlement ZTE reached with the US Commerce Department included a $1 billion penalty and a deposit of $400 million in an escrow account.
The ban was imposed in April after Commerce Department officials said ZTE made false statements about disciplining 35 employees after it pleaded guilty last year to violating US sanctions by illegally shipping US goods and technology to Iran
Published Date: Jul 13th, 2018 07:17 PM | Updated Date: Jul 13, 2018 07:17 PM IST